Will bitcoin split

1. At present, bitcoin has not experienced an influential bifurcation. It's basically a worry about hard bifurcations. In the history of bitcoin, there have been many worries like hard bifurcations. For example, the computing power of a large mine has been close to 51% of that of the whole network many times; In addition, when ASIC mining machine was just born, people were worried about the huge mining computing power of mining machine manufacturers; People's concern about quantum computer's participation in mining is also long-standing; At present, the currency price is low, and mining is graally controlled by several large mines, which may also lead to the emergence of hard bifurcations; Recently, the hard fork crisis caused by bitcoin expansion has once again alerted people. But in fact, this is just a kind of worry, the probability of occurrence is very small

every time there is a hard bifurcation crisis, the currency price may plunge, which is mainly e to the worry of bitcoin.

2.

Q: What is bitcoin bifurcation and why

A: the reason why bitcoin bifurcates is that the underlying technology of bitcoin is blockchain. Some people begin to think that bitcoin's block capacity is too small and there are always congestion. So they ask for bitcoin's upgrade and expansion. Some people think that bitcoin's function is too single and its future development is not optimistic, So these people ask bitcoin to have the function of building DAPP (decentralized application), and some support it, while others oppose it. This kind of divergence can be understood as the bifurcation of bitcoin

Q: the classification of bitcoin bifurcation

A: there are two kinds of bifurcations of bitcoin, one is soft bifurcations, the other is hard bifurcations, so what is soft bifurcations

Q: the formation principle of soft bifurcation

A: soft fork refers to optimizing and modifying bugs in the original bitcoin network to improve the capacity of the block, such as 2m, 4m or 8m, 16m. The segwit lightning network is the mainstream solution, which is equivalent to a traffic jam on the main road, and the development team will build an auxiliary road to help the main road to divert congestion

this is a mild solution, which can make the original bitcoin network compatible with the network after soft bifurcation, and the main transaction of bitcoin is still on the main chain

Q: disadvantages of soft bifurcation

A: of course, there are disadvantages of soft bifurcation, that is, it can only solve the temporary congestion problem, and after the implementation of soft bifurcation, it can only keep the network unobstructed for a few years. In the future, it needs continuous expansion, which has an impact on the stability of the system

Q: what is hard bifurcation and its formation principle

A: another solution is hard fork, which means to upgrade the bitcoin system again, change the height of the block completely in the form of code, and take bitcoin unlimited as the mainstream solution. Generally speaking, it is equivalent to a traffic jam on the main road. We directly abandon this road and find a place to build a three-dimensional transportation hub on the ground and underground. All new cars use this transportation system, which changes the block size of the bitcoin network and optimizes the processing speed of the network

Q: what are the disadvantages of hard bifurcation

A: but hard bifurcations also have disadvantages, that is, they are not compatible with the original bitcoin system, which requires all people in the bitcoin network to support hard bifurcations. If some people do not support hard bifurcations, there will be two versions of bitcoin network, which will proce two bitcoins. The blockchains of the two bitcoins form a competitive relationship, This kind of internal friction will lead to greater price volatility and uncertainty of bitcoin's future situation

Q: a classic case of bitcoin bifurcation

A: Eth and etc are typical cases of hard bifurcation. The Dao project is a crowdfunding project initiated by slock.it, a blockchain Internet of things company. It was officially released in May 2016. As of June of that year, the Dao project has raised more than $160 million. It wasn't long before the Dao project was targeted by hackers. Because of the huge loopholes in the smart contract, the Dao project was transferred to ether coin with a market value of 50 million US dollars

in order to recover the assets of many investors and stop the panic, vitalik buterin, the founder of Ethereum, finally proposed the idea of hard bifurcation, and finally completed the hard bifurcation in block 1920000 of Ethereum through a majority vote of the community, rolling back all the Ethereum coins occupied by hackers

even though Ethereum hard bifurcates into two chains, some people who believe in the tamper proof property of blockchain still stay on the original chain of Ethereum classic. Today, Ethereum (ETH) and Ethereum classic (etc) are ranked in the top 20 in the global cryptocurrency market value, which is one of the reasons why they are regarded as classic cases in the field of hard bifurcations

Q: the difference and influence between soft bifurcation and hard bifurcation

A: for users, soft forking will not proce new bitcoin currency. They only need to understand the transaction mode and K-line characteristics of bitcoin. They only need a mainstream wallet of bitcoin

hard bifurcation will generate new currencies, and there may be more than one new currency. Once the core code of bitcoin is modified and the core code of bitcoin is reconstructed, there may be a second time for the first time, and btc1 and btc23456789 may all happen. Users will be confused. Which kind of coin would be better for me to trade? What kind of bitcoin do I use to pay for a large circulation range? In short, users with dyschooia will crash. Moreover, users need to download wallets of different hard bifurcated systems, which brings complex operation to save and pay bitcoin

however, correspondingly, the user's right to choose has also increased. You can choose the bitcoin code developed by the development team you like and trust. When the bifurcations of bitcoin are not clear, when the soft bifurcations start to activate and the computing power starts to vote, the best way for users to deal with it is to wait and see. Don't recharge and extract bitcoin in the process of bifurcation

in addition, soft fork will change the settlement mode of bitcoin all nodes, and some small settlement will be confirmed by the third party node, namely settlement channel. The settlement channel may incur part of the service charge. Similar to the role and business model of UnionPay

what is bitcoin bifurcation? The difference and influence of soft bifurcation and hard bifurcation

3.

The capacity of a block in bitcoin is 1m (megabytes). A transaction is between 250 and 500 bytes

according to this algorithm, a block contains about 4194.3 transactions

the confirmation time of a block in bitcoin is 10 minutes, so the seven transactions that a block can process per second may sometimes be less than seven

What are the consequences

The bifurcations of

bitcoin are divided into hard bifurcations and soft bifurcations

hard fork means that when the block format or transaction format of bitcoin changes, the UN upgraded nodes refuse to verify the blocks proced by the upgraded nodes

the upgraded nodes can verify the blocks proced by the non upgraded nodes, and they continue the chain they think is correct, so they are divided into two chains

What is soft bifurcation

soft bifurcation means that when the data structure of bitcoin transaction changes,

UN upgraded nodes can verify the blocks proced by upgraded nodes,

and upgraded nodes can also verify the blocks proced by UN upgraded nodes

4.

In the discussion of blockchain, bitcoin and other digital currencies, we often hear the word "bifurcation". So what is bifurcation? What is the effect of bifurcation

blockchain

before talking about bifurcation, popularize a little knowledge of blockchain, so as to help us understand what bifurcation is more easily (if you don't have any concept of blockchain, please read my previous articles, which are all popular words to help you understand what blockchain is)

blockchain, as the name suggests, is a chain composed of blocks. Of course, this kind of chain is just a figurative metaphor. To put it bluntly, data blocks are connected orderly. In bitcoin, the transaction records of bitcoin are stored in the block. The size of the block and the space occupied by the transaction records determine how many transactions can be stored in a block. These transaction records are packaged into blocks, and then the blocks are connected one by one to form a blockchain

We know that bitcoin software, like other software, needs to be updated and modified regularly in order to make it better. So a new version will appear, but not everyone will download the new version, so one miner will run the old version, and some will run the new version. If the old and new versions are not compatible, the blockchain will bifurcate. Because there may be differences between the version blocks and the old version blocks, they cannot be connected to the same blockchain, so there will be two or even more chains, which is called bifurcation

soft forking

soft forking refers to that when the new consensus rules are released, nodes that have not been upgraded will proce illegal blocks because they do not know the new consensus rules, resulting in temporary forking. This kind of bifurcation will be graally repaired with the upgrading of nodes

hard fork

hard fork refers to the permanent divergence of the blockchain. After the release of the new consensus rules, some nodes that have not been upgraded cannot verify the blocks proced by the upgraded nodes, and usually hard fork occurs. Therefore, in the field of digital currency, hard bifurcation often leads to the emergence of new currencies. For example, the hard bifurcation of Ethereum led to the emergence of eth

What is bifurcation? What is bitcoin bifurcation

5. As for whether there is token after bitcoin bifurcation, it mainly depends on whether the wallet supports bitcoin bifurcation
as we all know, there are two common types of bitcoin wallets:
first, the network version, which does not need to be downloaded by users, can directly access the wallet platform through a computer or mobile phone, and use bitcoin wallets
Second, the stand-alone version, which needs to be downloaded from the computer (or the lower end of the mobile phone) and installed before it can be used
in addition, there is a bitcoin wallet (Hard Wallet) similar to U disk
as a bitcoin wallet service platform, coin pack thinks that whether the bitcoin in the wallet will generate new tokens after bifurcation mainly depends on whether the wallet supports bitcoin bifurcation
as a bitcoin wallet, whether it is a network version, a stand-alone version or a hard wallet, it is necessary to compare the bifurcated support of bitcoin before a new token can be generated; Whether there is a new token proct depends on the users
users can also consult the customer service of the wallet to learn about the bifurcations of bitcoin.

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Open Tencent mobile phone manager (PC) - App treasure - Toolbox - one click root
or swipe the machine
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or leave the factory
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4. If you find a problem, you must solve it immediately. Don't delay your time.

7. Bitcoin bifurcation, this topic may make many people curious, so this article is written for ordinary readers. It doesn't involve the knowledge that has been debated before

the original version of bitcoin was carefully arranged by Nakamoto, and has always been very clear. The debate is about growth. In 2008, he answered the first question about the design of bitcoin, saying:

visa processed 37 billion transactions in fiscal year 2008, or an average of 100 million transactions per day. So many deals require 100GB of bandwidth = 12 DVDs or 2 HD quality movies = about $18 of bandwidth at the current price

assuming that the bitcoin network reaches this size, it will take several years. By then, sending two HD movies over the Internet may not be a big deal

at that time, he was more tired of bitcoin expansion than any of us. His plan is to make bitcoin popular from the beginning, and he knows that this success will change how people use his system. In 2010, he said, "it's good that we keep [blockchain] files as small as possible

the final solution will not care how big it (blockchain file) becomes

but now, keep it small while it's still small, and the growth of new users will be faster. When I finally implement client only mode, it's no longer a problem
"
in 2011, through a series of calculations, I expanded the expansion intuition of Nakamoto in detail: if bitcoin becomes so popular, will it completely replace visa? The answer is that his plan is credible - you don't need anything else but a computer, even if there's so much traffic. Before he left, I also implemented the model he talked about

it was Nakamoto's plan that brought us together. It has changed the lives of thousands of people around the world. Some of us give up our jobs, others devote their spare time to the project, others set up companies and even travel around the world. This is an idea that ordinary people can complete mutual payment through blockchain and create this global community

that's the vision I signed, and that's the vision Gavin Andresen signed, and that's the vision signed by millions of developers, founders of startups, evangelists, and users around the world

and this vision is now in danger. In recent months, it's clear that a small group of people have completely different plans for bitcoin. These people have never really understood Nakamoto's intention because they are worried about success, if the technology has never been improved, if people can't run bitcoin on their home computers? Doesn't this make bitcoin move away from centralization and more like banking? What if people start to rely on bitcoin, even if it's imperfect

now, Nakamoto has chosen to disappear, and they want to make a major change: substantially increase transaction costs, end support for mobile P2P wallets, give up unproven transactions, and many things that have never been found in the project's founding documents

the so-called lightning network, which is about to be promoted as a substitute for Nakamoto's design, does not exist. The white paper describes that it was announced earlier this year, and if it can be realized, it will be a huge departure from the bitcoin we know and love. Pick one of the many differences, and a bitcoin address won't work. What they will be replaced with has not yet been worked out (because no one knows). There are many other surprising pitfalls that I mentioned in another article. What will it eventually proce to make our existing bitcoin network better? It is still extremely unclear.

8. Bitcoin needs to be expanded, so bifurcating, bifurcating equals candy,

9. It's already two. There's more to it.